The Dow Jones Industrial Average topped 22000 on Wednesday, reaching another milestone in the long bull market as investors bet that a resurgent global economy can offset lukewarm U.S. growth.

The blue-chip index claimed its 32nd record of the year. Stocks continue to chug higher without a pullback of greater than 3% in more than a year, and volatility levels by some measures are hovering near all-time lows. The rally has been...

RELATED VIDEO

Dow 22000: Is This the Top of the Market?

As the Dow passes the 22000 mark, led mostly by tech stocks, Heard on the Street reporters try to make sense of the continuing rise, despite some warning signs. Photo: Getty